Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Recommendation of “Hold” from Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given an average recommendation of “Hold” by the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $16.7333.

Several equities research analysts have recently weighed in on RCKT shares. Leerink Partnrs downgraded Rocket Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 27th. Bank of America raised Rocket Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.00 to $10.00 in a report on Wednesday, August 20th. Scotiabank decreased their price objective on Rocket Pharmaceuticals from $51.00 to $19.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 28th. Evercore ISI downgraded Rocket Pharmaceuticals from an “outperform” rating to an “in-line” rating and set a $5.00 price objective for the company. in a report on Friday, May 30th. Finally, UBS Group decreased their price objective on Rocket Pharmaceuticals from $12.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, June 17th.

Insider Buying and Selling

In related news, insider Jonathan David Schwartz sold 11,161 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total transaction of $33,706.22. Following the completion of the sale, the insider directly owned 224,094 shares of the company’s stock, valued at $676,763.88. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Martin Wilson sold 12,109 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total value of $36,569.18. Following the sale, the general counsel directly owned 137,054 shares of the company’s stock, valued at approximately $413,903.08. This represents a 8.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,927 shares of company stock valued at $111,413 over the last three months. 24.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC lifted its holdings in shares of Rocket Pharmaceuticals by 83.6% during the first quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 4,108 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Rocket Pharmaceuticals during the second quarter worth $25,000. Hsbc Holdings PLC acquired a new stake in shares of Rocket Pharmaceuticals during the first quarter worth $69,000. Mariner LLC acquired a new stake in shares of Rocket Pharmaceuticals during the fourth quarter worth $139,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 16.1% during the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 1,658 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $3.23 on Friday. The firm has a market capitalization of $348.52 million, a P/E ratio of -1.29 and a beta of 0.62. Rocket Pharmaceuticals has a 52 week low of $2.19 and a 52 week high of $22.01. The firm’s 50 day moving average is $3.10 and its two-hundred day moving average is $5.22. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same quarter last year, the business earned ($0.74) earnings per share. Research analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.